Our traditional industry sectors have consistently supported the Australian economy, creating jobs and being a source of livelihood for so many families.
Driving all our industries forward, including traditional sectors like manufacturing, is central to the Morrison Government’s economic plan.
Manufacturing remains a key part of the Australian economy, employing hundreds of thousands of Australians and contributing tens of billions in annual exports.
Due to our strong economic management, manufacturing under the Liberal Nationals has experienced 32 consecutive months of stable or expanding conditions according to the Australian Industry Group.
And the value of Australia’s manufacturing exports has grown by around 23 per cent since 2013, compared to a 13 per cent decline when Labor was last in government.
There is significant potential to grow the sector, with the Advanced Manufacturing Growth Centre estimating the sector could capture growth of 25 – 35 per cent by 2026.
But our manufacturing sector will only expand if it can compete with the rest of the world.
This means we need to prepare manufacturing for the future and establish the right policies to make Australia an easy environment for manufacturers to invest, export, embrace new technologies and develop high value products.
The Morrison Government will deliver a stronger manufacturing sector by:
• Growing exports by Australian manufacturers including by delivering more free trade agreements and supporting an Australian Made export campaign to give our manufacturers a bigger edge in overseas markets.
• Supporting manufacturers to modernise and grow through a new Manufacturing Modernisation Fund, support for science, technology and commercialisation, and providing new opportunities in areas like space industry.
• Delivering reliable and affordable energy to lower production costs with our Fair Deal on Energy, as well as gas market reforms and investments in business energy efficiency.
• Ensuring Australia has a world-class skilled workforce that supports smarter manufacturing, including support for up to 80,000 new apprentices.
• Providing better access to finance through our Australian Business Securitisation Fund and Australian Business Growth Fund.
• Growing our sovereign defence industry and maximising opportunities for Australian involvement in our record $200 billion investment in Defence capability.
• Maintaining a strong anti-dumping system to ensure a level playing field for our manufacturing businesses.
By contrast, Labor’s policies will weaken the manufacturing sector by making Australia a place in which it is harder to do business.